Franklin Resources Inc. Acquires 3,567 Shares of CDW Co. (NASDAQ:CDW)

Franklin Resources Inc. raised its holdings in CDW Co. (NASDAQ:CDW) by 3.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 108,009 shares of the information technology services provider’s stock after purchasing an additional 3,567 shares during the quarter. Franklin Resources Inc. owned approximately 0.08% of CDW worth $24,138,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CDW. Massachusetts Financial Services Co. MA acquired a new stake in shares of CDW in the third quarter valued at approximately $416,111,000. Janus Henderson Group PLC boosted its position in CDW by 7,029.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock valued at $331,891,000 after buying an additional 1,446,025 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of CDW in the 3rd quarter valued at $172,217,000. Perpetual Ltd bought a new stake in shares of CDW during the third quarter worth $158,300,000. Finally, Ceredex Value Advisors LLC acquired a new position in shares of CDW during the second quarter valued at $79,549,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Price Performance

CDW opened at $173.28 on Friday. The stock has a market cap of $23.09 billion, a P/E ratio of 21.18, a P/E/G ratio of 5.01 and a beta of 1.02. CDW Co. has a 12 month low of $170.68 and a 12 month high of $263.37. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. The company has a fifty day simple moving average of $193.25 and a 200 day simple moving average of $212.44.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a return on equity of 58.31% and a net margin of 5.33%. The business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter last year, the company earned $2.60 earnings per share. The firm’s revenue was down 2.0% compared to the same quarter last year. On average, research analysts expect that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were paid a $0.625 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.44%. This is a positive change from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is presently 30.56%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CDW. Redburn Atlantic began coverage on CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective for the company. Barclays dropped their price target on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Morgan Stanley upped their target price on shares of CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, Citigroup lowered CDW from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, CDW has an average rating of “Moderate Buy” and an average target price of $241.75.

CDW Company Profile

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.